The information you provided touches on several significant developments related to real estate projects in the Noida-Greater Noida region, specifically involving Amrapali projects and the new Heritage City proposal in Raya. Here’s a breakdown of the key points:
Amrapali Projects in Noida-Greater Noida:
- Additional Towers Construction:
- Amrapali is planning to build more than 10,000 new flats by constructing additional towers on vacant spaces within existing projects.
- The court receiver and National Building Construction Corporation Limited (NBCC) need to obtain the consent of three-fourths of the current buyers in the relevant projects to move forward with this construction.
- The process of obtaining Floor Area Ratio (FAR) approvals from the authority has already begun.
- Pending Flats and Buyer Consent:
- Approximately 20,000 buyers have been waiting for years to receive their flats in various Amrapali projects across Noida and Greater Noida.
- These projects have been incomplete, and NBCC is working under the supervision of the court receiver to complete them.
- The potential construction of new flats could provide an opportunity for new buyers and generate revenue, which NBCC could use to recover dues owed to the authority.
- Registry Work:
- Meanwhile, the registration of flats for buyers in Noida is ongoing, signaling progress in some areas.
Heritage City in Raya:
- Project Proposal:
- A proposal for developing Heritage City in Raya, covering a 3,000-acre area, has received approval from Uttar Pradesh Chief Minister Yogi Adityanath.
- The Yamuna Development Authority presented details of this project during an event in Mathura, where the Chief Minister had a program on August 25.
- Next Steps:
- The Detailed Project Report (DPR) for Heritage City will now be presented to the state government for approval.
- Once approved, the project will move forward, with the groundwork set to begin.
Impact:
- For Existing Buyers:
- The construction of additional towers and completion of pending projects will be crucial in delivering long-awaited flats to existing buyers. However, the requirement for buyer consent introduces an important step in this process.
- For New Buyers:
- If approvals are granted, new flats will be available for purchase, offering an opportunity for future buyers and generating revenue that can be used to clear dues.
- Heritage City Development:
- The development of Heritage City could bring significant infrastructure and cultural development to the Raya area, potentially boosting the local economy and real estate market.
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